NYSE and Blockchain.com Team Up to Bring Tokenized US Stocks to Crypto Users

Blockchain.com and the New York Stock Exchange have signed a memorandum of understanding that could give the crypto platform’s users access to tokenized US stocks and ETFs. Trading would run on NYSE’s planned digital alternative trading system, pending regulatory approval. ICE Data Services and Blockchain.com would also share market data.

24/7 Trading and Retail Demand

Reid Noch of TD Securities says the platform looks mainly like a play for retail flow, given its round-the-clock trading and request-for-quote feature. He believes weekend trading is the bigger difference. Since retail trades are already pre-funded, instant settlement would change little.

Tokenized Stock Market Growth

Tanay Ved of Talos says crypto venues are becoming multi-asset platforms. Kraken, Binance, Coinbase and Robinhood already have their own models. Tokenized stock value reached $3.14 billion, up over 18% in 30 days, while holders rose nearly 72% to 3.87 million.

SEC Innovation Exemption

The SEC introduced a five year exemption for certain tokenized venues less than a week ago, requiring the same rights as regular shares. That excludes Kraken’s xStocks and Robinhood’s Stock Tokens for now, though Commissioner Hester Peirce says other approaches remain possible.